- Parabolic Arc
- March 24, 2023
Can HKATG Challenge SpaceX’s Starlink? Chinese Company Prepares For Golden Bauhinia Satellite Constellation
HONG KONG, Feb. 24, 2022 (HKATG PR) — HKATG [Hong Kong Aerospace Technology Group Limited ] has successfully launched five satellites for its ”Golden Bauhinia Constellation” in 2021, the aerospace development plan shows no sign of slowing down in 2022.
In January 2022, HKST announced that the Group has planned to launch two satellites named ”Golden Bauhinia Satellite No. 3” and ”Golden Bauhinia Satellite No. 4” in 2022 Q3, with the target launch time tentatively being scheduled in July 2022 and will continue to form and constitute part of the “Golden Bauhinia Constellation”.
At the same time, 25 satellites are planned to be launched in 2022 for the “Golden Bauhinia Constellation”, and the further launch of satellites this year will provide additional aerospace data as well as will boost the speed of receiving aerospace data. It’s worth noticing that “Golden Bauhinia Constellation” is the first-star chain plan of the Hong Kong aerospace industry, the whole project plans to launch 112 satellites.
The satellite remote sensing data of “Golden Bauhinia Constellation” will serve the Guangdong-Hong Kong-Macao Greater Bay Area as a priority, providing users with overall solutions for smart cities, helping cities to refine city management, promote infrastructure development, innovation, and technology industries, agricultural monitoring, disaster prevention, and mitigation, as well as comprehensive urban management and watershed control.
HKATG is a commercial space company established in 2019 and became an accredited institutional member of the International Astronautical Federation in November 2019. HKATG makes good use of Hong Kong’s position as an international center and the industrial advantages of being one of the four independent WTO zones, the Group is committed to forming an upstream and downstream industry ecosystem for commercial aerospace, with satellite basic industries and satellite data applications as the core, and to promote the re-industrialization process of Hong Kong while opening up new industrial paths for Hong Kong social and economic development for the vigorous development of the global aerospace industry.
EU lays out ‘Secure Satellite Communications’ plan
Thierry Breton, Commissioner for the Internal Market the European Commission presented a €6 billion ‘Secure Satellite Communications’ plan on 15 February, the proposal aims to build and operate a space-based state-of-the-art connectivity system covering all of Europe and parts of Africa. This plan will launch 20,000 low-orbit satellites in the next ten years, with a total investment of about 6 billion euros. The plan sets to launch more than a low orbit satellite of 20,000 satellites, the total investment is about €6 billion.
According to Thierry Breton, there are only 56% of households in the EU are connected to the broadband network, and there are many networks blind spots. The new plan will make high-speed Internet coverage throughout the European continent and adopts quantum cryptography technology to enhance the security of the communications network.
It is estimated that the construction of the ‘Secure Satellite Communications’ plan will bring €17 to €24 billion in revenue, increase employment in the space and communications sector in the EU, and drive the development of downstream industries.
How much economic value is there in global commercial aerospace?
According to the ‘Space Report’ issued by the Space Foundation in 2019, the total revenue in the global space market has grown by 73% over the past decade, up more than US$9 billion from the previous year, soaring to the US $423.8 billion. Commercial aerospace revenue accounts for 80% of the global space economy, reaching the US $336.89 billion.
In addition to the economic benefits, commercial aerospace radiates enormous social benefits. In Europe and the U.S., commercial aerospace is now a major source of job growth. Of the $336.89 billion in commercial revenue, $217.72 billion was in space products and services; $119.17 billion was in space infrastructure and related industries – a portion that is up 16.1% from 2018.
HKATG is one of the key players in global commercial aerospace sector.
The stock price of HKATG had soared 25 times in a few months. Bloomberg believes that HKATG has the opportunity to grow with world-class enterprises to capture the rapid growth of the global space industry. As the first Hong Kong company with a satellite project, HKATG is expected to thrive on the stage of aerospace industry and continues to draw investors’ attention.